The Dow and Nasdaq jumped triple digits
Stocks rallied across the board as earnings season gained momentum, with 3M (MMM) among today's post-earnings winners. The Dow, Nasdaq, and S&P 500 all snapped three-day losing streaks. Continued strength out of the semiconductor sector helped lift the tech-heavy Nasdaq to a triple-digit gain alongside the Dow, which settled just shy of a 400-point lead. More big names are slated to report tonight and tomorrow, including AT&T (T) and Philip Morris (PM).
Continue reading for more on today's market, including:
- These psychologically significant levels could be a trojan horse.
- Checking in with Tesla stock before tomorrow's earnings report.
- Plus, defense stock misfires; drug makers dispute; and why the SPX could stay in this channel.
5 Things to Know Today
- The U.S. and Mexico discussed changes to the U.S.-Mexico-Canada Agreement (USMCA) after Trump issued new tariffs on Canada. (Reuters)
- A huge amount of Ondas (ONDS) stock is sold short, with retail traders now on the upside. (Stocktwits)
- Northrop Grumman stock brushed off an earnings beat.
- Novo Nordisk (NVO) filed a lawsuit against Eli Lilly (LLY).
- Why the S&P 500 could remain range-bound for now.
Oil Prices Settle at Over 1-Month High
Oil prices continued to climb, hitting their highest level in over a month as attacks between the U.S. and Iran intensified and Yemen's Houthis threatened a naval blockade of Saudi Arabia. August-dated West Texas Intermediate (WTI) crude rose 2% to settle at $84.91 per barrel.
Despite the continued attacks, hopes of de-escalation pushed gold prices higher. August-dated gold futures rose 1.5% to settle at $4,076.40 per ounce.